For many high net worth celebs, investing in real estate remains a practical way to make their money work for them. Investing may simply mean they own several income properties, to be rented out when they are not occupying by family members or the stars themselves. Others, however, take things a step further by flipping homes, developing homes or amassing sizable commercial investments.
Ellen DeGeneres flips dozens of pricey properties, many of them at multimillion-dollar profits. Diane Keaton does the same, albeit at a slower pace and not at such nosebleed prices. And many other famous faces have followed their lead, treating their day jobs in front of the camera as a marketing tool to keep them in the spotlight and, in turn, ignite their investment careers.
For retired athletes such as Shaquille O’Neal, Alex Rodriguez and Andre Agassi and Steffi Graf, their side hustles in real estate have become a focus of their business endeavors — approached with the same determination and aggression they did their lengthy sports careers.
In the case of Taylor Swift, her massive net worth affords her the ability to buy high end rental properties that will accrue equity and give cash flow while she continues to tour, write and record. For others, such as former “Baywatch” and “Melrose Place” actor David Charvet, they were astute enough to realize that a beau-hunky TV actor often has a certain shelf life and looked to real estate investment as a kind of second act.
Let’s have a look at some celebs who have turned their fame-driven riches into impressive, money-making property portfolios.